On Saturday, February 27, 2021, news.Bitcoin.com reported on the large number of 2010 and 2011 block rewards issued this year. In that report it was said that the mysterious whale entity we hunted “hasn’t moved a large number of bitcoins” since January 25th. Following the release of this study, the old-school whale miner moved an additional 20 block rewards on Sunday from 2010 when 1,000 bitcoins were spent that had been idle for well over a decade.
9,000 decade-old bitcoins have been issued since March 11, 2020
Since mid-March, news.Bitcoin.com has been looking for an old-school Bitcoin miner (BTC) who spent large amounts of block rewards in 2010. A block reward is an incentive given to a Bitcoin miner to find a block on the Bitcoin blockchain. Before 2012, all rewards were 50 BTC per block. Furthermore, the technical term “spend” or “spent” simply means that the owner moved the coins, but that does not necessarily mean that the bitcoins were “sold” to another owner.
On Sunday, February 28, 2021, the mysterious whale miner, who has been giving out 20 block rewards since 2010, moved 1,000 ten-year-old bitcoins. There are no other published studies that have recorded the number of blocks found by news.Bitcoin.com’s Jamie Redman, Btcparser.com team members, and Issak Shvarts since the infamous 20 block editions of ‘Black Thursday’ from 2010 in mid-March 2020 .
Our report on Saturday showed that 80 block rewards from 2010 had been given out this year. Interestingly, 40 block rewards from the 2011 days were also given out in 2021. On Sunday, February 28, 2021, after our last report from 2010, the whale miner again issued 20 block rewards at block height 672,501. It is believed that the mystery miner is seeking attention.
Our last study also mentioned the mega whale or group of whales that have been issuing these 2010 blocks in strings of 20 blocks per transfer since mid-March. Our team, together with researchers from Btcparser.com and the Russian blockchain researcher Issak Shvarts, discovered a total of 9 spending chains as of 2010.
All strings use exactly the same spending pattern for concessions of 20 consecutive ten year old blocks. The spending for 20 block reward strings from 2010 took place on March 11, 2020, October 11, November 7, November 8, December 27, January 3, 2021 (Bitcoin anniversary), January 10, January 25 and today (Sunday, February 28, 2021)) too.
That’s 180 block rewards in total, and each and every one of them contained 50 BTC per block. The person (s) always consolidate the bitcoins into a single BTC address, and then the coins are distributed in fractions. Typically, all of the strings of the used blocks are from July 2010 to November 2010, and the coin base dates are always the same months.
The block explorer oxt.me also shows that the spending habits of the whale in 2010 are always the same. A researcher who discussed the subject with our news desk yesterday said, “Maybe you have a special application, a script that isn’t really flexible and may only get 20 private keys at a time, but a list of the addresses to be received.”
Either spending solutions are not flexible or the whale is bending over and wanting attention
Blockchair’s Privacy-O-Meter shows that early editions of the Mystery Miner are always prone to heuristics and transaction tracking tools. The editions for 2010 strings always have “rare fingerprint”, “co-editions”, “same address on inputs” and “sweep” techniques.
After the first consolidation, the transactions are “dark” from here and data protection is increased from 0 to 100 points according to Blockchair statistics. Issak Shvarts believes numerous strings from 2010 that followed this exact spending pattern were likely sold on the San Francisco-based exchange Coinbase.
The (not) “Satoshi’s Bags” tracker (When: 2009-2011 Bitcoin mined was issued / not issued).
In addition, the mysterious miner or miners always spend the corresponding Bitcoin money (BCH) with the exception of the one specific expenditure on strings that was decade-old in mid-March 2020. In addition, the mining company never moves the corresponding Bitcoinsv (BSV) except once on March 11th.
Whatever the case, the old school whale or the whales spending the strings of 2010 block rewards seem to want attention. Unless the whale is forced to use an inflexible spending script or strange spending habit, our deduction so far is that the whale is a show-off and definitely wants the public’s attention.
It is quite a coincidence that yesterday, after our news desk wrote, “This particular entity or entities have not moved a large number of bitcoins since then,” and the whale is giving out another series of 20 block rewards (1,000 BTC) from 2010 onwards. We also know that on Oct. 11, the company or companies sent 9.99999943 BTC (at this point $ 114,000) to the Free Software Foundation and an additional 9.999 BTC to the American Institute for Economic Research (AIER).
To date, the whale has issued block rewards around 180 decades old, which equates to roughly 9,000 BTC. That’s over $ 400 million worth of Bitcoin at exchange rates on Sunday, February 28, 2021.
What do you think of the 9,000 bitcoins from 2010 that have been issued since March 11, 2020? Let us know what you think on this matter in the comments section below.
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180 Block Rewards, 2010 Block Reward, 2010 Coins Mined, 9000 BTC, AIER, Bitcoin, Bitcoin Cash, Bitcoinsv, Block Rewards, BTC, Btcparser.com, Cryptocurrency, FSF, Mined Coins, Moving Coins, Parser, Satoshi Nakamoto, Satoshi-Era Coins , bitcoin sleeping, spent, whale, whale miner
Photo credit: Shutterstock, Pixabay, Wiki Commons, theholyroger.com/satoshi-bags-tracker, Btcparser.com,
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